PriceGrabber names new president
Los Angeles — Online shopping content provider PriceGrabber announced it has appointed Jeff Goldstein as its president, charged with leading the new division of CPL Holdings that was created from a management-led buy-out from Experian.
Jeff Goldstein previously was managing partner at BGT Capital, an investment and advisory firm focused on the digital media and ecommerce sectors where he advised CPL Holdings.
Walmart pulls plug on three stores after D.C. Council OKs wage bill
New York — Walmart said it was walking away from its plans to build three stores in Washington, D.C., after the city council passed a bill on late Wednesday setting a higher minimum wage for large retailers.
”This was a difficult decision for us — and unfortunate news for most D.C. residents — but the Council has forced our hand,” said Wal-Mart spokesman Steven Restivo in a statement released after vote, which passed 8 to 5.
The Large Retailer Accountability Act (LRAA) of 2013 requires large retailers with stores over 75,000 sq. ft. and parent companies grossing at least $1 billion per year to pay a “living wage” starting salary of $12.50 an hour. (The District has a minimum wage of $8.25.) Under the terms of the bill, large retailers have four years to comply with the requirements.
The bill could still be blocked if D.C. Mayor Vincent C. Gray vetoes it or if Congress uses its local control to keep the legislation from taking effect.
Wal-Mart had warned in an op-ed article in the Washington Post on Tuesday that it would pull the plug on the three stores planned for the District (at Skyland, Capitol Gateway, and New York Avenue if the council passed the bill.) It also warned that it would reevaluate its plans for three other stores in the District.
“The question here is a living wage; it’s not whether Wal-Mart comes or stays,” said council member Vincent B. Orange (D-At Large), a lead backer of the legislation, in a report by The Washington Post. “We’re at a point where we don’t need retailers. Retailers need us.”
Nordstrom, Macy’s and Saks top digital department store study
New York — Nordstrom emerged as the top brand in an inaugural benchmark study ranking the digital performance of the world’s top department stores by digital think tank L2. Among the 40 stores included in the study, Nordstrom was No. 1, followed Macy’s, Saks, and the U.K.’s Marks & Spencer, all of which earned ‘Genius’ titles.
"Successful department stores are investing in digital infrastructure to bolster their in-store offerings. These forward-thinking retailers improve shareholder value through sophisticated e-commerce, strong email marketing and CRM, and innovative mobile efforts,” stated Scott Galloway, author, 2013 Digital IQ Index: Department Stores.
Key highlights of the study include:
- Canadian retailers send the most marketing emails (6.45 per week), followed by American retailers (5.62 per week) and U.K. retailers (2.38 per week).
- Bergdorf Goodman, Saks Fifth Avenue, Barneys New York, and Bloomingdale’s all have larger communities on Google+ than on Facebook.
- Haul videos continue to be popular, especially those that feature apparel purchases, though few brands are purchasing ads to link back to their e-commerce sites.
The top 10 ranked brands in the study are:
- Sakes Fifth Avenue
- Marks & Spencer
- Neiman Marcus
- House of Fraser
- Bergdorf Goodman
- John Lewis